Hermes_Resistance_Support
The purpose of this indicator is to show the key reference level for both sides of the market.
If the price breaks the reference level up and the price bar closes above the reference line, It will trigger a long position and the stop-loss for this position will be the support level.
If the price breaks the reference level down and the price bar closes below the reference line, It will trigger a short position and the stop-loss for this position will be the resistance level.
If the price breaks the reference level up and the price bar closes above the reference line, It will trigger a long position and the stop-loss for this position will be the support level.
If the price breaks the reference level down and the price bar closes below the reference line, It will trigger a short position and the stop-loss for this position will be the resistance level.
Versionsinformation:
HERMES follower is included in the indicator. The follower helps us to filter out the potential break ups and potential stops in advance before the price pick a direction.
Versionsinformation:
minor updates
Versionsinformation:
minor changes
Versionsinformation:
some changes to improve efficiency
Versionsinformation:
changes